A Study On The Marketing Strategy Of Retail Wealth Management Business Of XZ Branch Of CITIC Bank

With the rapid and steady growth of China’s economy,residents’ disposable income is increasing,their investment needs are rising and their awareness of financial management is gradually increasing.At the same time,with the continuous integration of the new generation of information technology and the financial industry,the scale of retail wealth management products is getting larger and larger,financial institutions are constantly launching new wealth management products,and the competition among commercial banks in the retail wealth management business is becoming more and more intense.Pushing traditional wealth management products to the Internet financial market has become an urgent problem for commercial banks.This paper examines the marketing strategy of CITIC Bank XZ Branch’s retail wealth management business using a combination of SWOT analysis and other methods.It first introduces the definition,characteristics and types of retail wealth management business of commercial banks,and explains the 4PS theory and the SWOT analysis.This is followed by a description of the basic situation of CITIC Bank XZ Branch,an analysis of the current situation of the development of retail wealth management business,furthermore,an introduction to the classification of retail wealth management business,and an explanation of the current marketing strategy from four aspects according to the 4PS theory.Next,the target market and marketing strategy of CITIC Bank XZ Branch’s retail wealth management business are analyzed by applying the SWOT analysis method to analyse the strengths,weaknesses,opportunities and threats.Finally,based on the results of the SWOT analysis,a marketing mix strategy is proposed in terms of growth strategy,multiple business strategy,turnaround strategy and defensive strategy,and corresponding safeguards are proposed,including the establishment of a quality marketing team,a sound assessment and incentive mechanism,the strengthening of the bank’s internal financial technology application and the reasonable allocation of marketing resources.